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Psalms461

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Pros and cons of refinancing with existing mortgage lender?
Lender wants to go 20 years, and I'm almost 15 of a 30 yr loan. Claims That I will have no out of pocket, but they would recoup cost by adding years to the loan.

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the question is will you end up saving money?

even if the lower your intrest rate and tack on an extra 5 year, can you still pay it off in 15?

You need to do the math with the new numbers.

Also if you end doing the deal then you will end up with the old mortgage closed and having a new mortgage on your credit report.

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